Meet a dealer & Do's vs Don'ts

News: Registration is free here at the CPMF!

I was reading this month's edition of CCN (Canadian Coin News) and there are plenty of good aritcles on paper money.
Seems like they're finally catching up to us!  

One article suggests getting to know your local coin/paper money dealer or meeting them at shows.  As I read I just kept thinking "how true!"  What better place to learn about your hobby (what's hot vs what's not), to talk about what's new, to network, and to (naturally) buy a new acquisition.  

Something I never thought about was his advice to let him (or her) know what you are seeking.  This often works in your favour since the dealer has a much better network than you do, and he/she can get a good deal since they don't have to worry about overhead (its just passing hands).

The writer gives a list of DO's and Don'ts (eg Do treat a coin/note with the utmost care -- buy it if you drop it and DON't - sit at a bourse table/chat and not buy something).  If you care to learn more than you can buy this month's CCN or pick one up at the Hamilton Ramada show coming up next weekend.  

I would like to hear from the dealers in this forum:
What is your advice to collectors (both starting out, experienced, and advanced)?
What are some of your "Do's" and "Don'ts"

All good information. By all means, drop in to the Ramada in Hamilton. There are a pile of paper in the auction as well as several dealers with paper money, and a lot of them with other numismatic material.
Canadian Coin News has a table against the far wall. The editor will be there on Sunday, on Saturday you will have the pleasure of dealing with Mary-Anne.

One thing not mentioned, is don't eat over a dealer's stock and don't drink near paper money. One spilled coffee could be a real disaster.

Rick

People would actually drink/eat by a dealer's stock?? Terribly unfortunate people do not think.

Yes, indeed, people will drink coffee, tea or coke while walking around. We had one unfortunate person who was always eating donuts, and spilling crumbs all over the place, until a dealer asked him to leave.

Manners are hard to learn if you are unaware.

Rick

I am always surprised at how some people behave at shows. I've seen people eat and drink, and handle notes pretty rough too.  It surprises me.  I always ask a dealer if its "ok" before I take a note out of its holder to inspect. I only do this if I'm seriously considering on buying.  If I see some problems I'll point them out but not in a atagonistic fashion.  I found almost every dealer I've dealt with to be extremely polite, fair, and open minded.  I've seen some forums where a collector has given a dealer a bad "rap" and I just wonder exactly how that collector conducted himself.  Did he act like a "know-it-all"  I confess it is tempting to behave poorly (I suppose out of nerves-- which can happen on your first major purchases) but its the last impression I want to give the collecting or dealing community (and they're at the shows).  

Like I've said to many a collector - be polite, use common courtesy and manners.  I mean I hardly ever "dicker" about the price a dealer will give me on a note.  I always ask if any of my notes interest them first.  I have found this sort of approach very effective since the dealer seems to be relieved that I'm not aggressive or "full of myself" acknowledging his/her expertese, even if I've been collecting for some years.  There is no way I've seen half as many notes as most dealers.  Then when I decide which note I'm interested in purchasing most dealers will come down in price (with a trade).  I don't want to pick up a reputation for being a "scrapper" but at the same time I don't want dealers to consider me a "mark."

Naturally they're a bit reluctant to come down in price with a stellar rare specimen....but I've been more prone to purchase AU or a lower grade UNC simply because I'm tickled pink to have a rare note in such nice condition.  I know (from studying the price guides) that its the UNC which climb most rapidly in value--but I don't collect only for investment sake.  I also expect a big market adjustment if BOC ever goes polymer.  If its rare and in decent shape -- I'm happy!  If BOC goes polymer then a lot of us will be laughing all the way to the bank!

I agree with walktothewater, I must say you always have informative posts  . I learn a lot from you my friend.

I actually do not even take the note of the holder, instead I ask the dealer to take the note out of the holder, half way, and tilt it in various directions so that I can view the note properly. I do this so that I do not damage the note. I personally prefer this type of note viewing, especially with an expensive UNC note which can easily be damaged, because I do not wish to be accused of ruining a dealer's stock.

Let me tell everyone about a particular customer I had a show once. He picked out 15 items, asked for a total. I spelled out the cost of each object, and he agreed to all. The total was about $500.

He then slid two items back, and said "how much now?"

I gave him another price (good thing I write down the prices), of about $430. He then slid two more items out, and then drew back the first two. I then asked if he was just waiting for me to make an adding mistake, and all he said was its no big deal. I then placed all of the 15 items, and said that he had agreed to the price of each, and the total was $500. He then said something about this is how he deals. I then said, pass. Prices offered are no longer valid. He got very nasty and threatening, so I had security throw him out. (I also owned the show).

Not one of my favorite deals, for sure.

Rick